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ICPI vs VTP

iShares 0-1 Year TIPS Bond ETF

ICPI—NYSE Arca

Vanguard Total Inflation-Protected Securities ETF

VTPANYSE Arca

Overlap

No data

Expense ratio

VTP −0.04pt a year

ICPI0.09%VTP0.05%

Avg volume · 30D

VTP 6.9×the volume

ICPI9.42KVTP65.3K

ICPI vs VTP Performance

Dec 31, 2025 – Nov 9, 2026

+3.9%ICPI−0.1%VTP

Dec 31, 2025 to Nov 9, 2026. ICPI +3.9%. VTP −0.1%. Use the arrow keys to read each point.−2%−1%1%2%3%Dec 2025Jun 2026Nov 2026
Expense ratio
ICPI 0.09%
VTP 0.05%, better
Fund size
ICPI $27M
VTP $251M
1Y total return
ICPI No data
VTP −0.3%
Yield (12M)
ICPI No data
VTP 3.76%
Holdings
ICPI 6
VTP 51
Avg volume (30D)
ICPI 9.42K sh
VTP 65.3K sh, better
NAV per share
ICPI $50.27
VTP $73.77
52W range

ETF.net Grade

  • —ICPIUnder classification review
VTP: Cost 92, Risk 43, Mission 100, Tradability 51, Holdings 81, Durability 64.
Pillar letters and Scores for ICPI, VTP, with each pillar’s weight
PillarICPIVTP
Cost30% weightNot scoredA92
Mission25% weightNot scoredA100
Risk15% weightNot scoredC43
Tradability15% weightNot scoredC51
Holdings10% weightNot scoredA81
Durability5% weightNot scoredB64

Rank among TIPS funds

How we build Categories ›

TIPS⁠

Category · 40 funds
See all 40 ›

VTP ranks 3rd of 40 funds in the TIPS Category.

  1. Rank 1ASCHPSchwab US TIPS ETFScore 85
  2. Rank 2ASTIPiShares 0-5 Year TIPS Bond ETFScore 79
  3. Rank 3AVTPVanguard Total Inflation-Protected Securities ETFScore 77
  4. Rank 4AVTIPVanguard Short-Term Inflation-Protected Securities ETFScore 73
  5. ICPINot yet graded

Our read on each fund

ETF.net Research

ICPI—iShares 0-1 Year TIPS Bond ETF

VTPAVanguard Total Inflation-Protected Securities ETF

In short

ICPI Most of the T-bill aisle pays a nominal yield and hopes inflation behaves. ICPI holds the shortest inflation-protected Treasuries on the curve, one year or less, so principal moves with CPI while rate risk stays small.

VTP Vanguard's ETF answer for the whole TIPS curve. It tracks a market-value-weighted index of Treasury inflation-linked bonds with at least a year left to run, charges five basis points, and opened for business in 2025.

Stated mandate

ICPI The fund seeks to track an index of inflation-protected U.S. Treasury bonds with remaining maturities of one year or less. It is designed to provide a way to seek protection against near-term inflation.

VTP The Fund passively tracks the full market of U.S. Treasury inflation-protected public obligations through the ICE U.S. Treasury Inflation Linked Bond Index.

Why people hold it

  • ICPI Rare mandate in a bill-fund crowd: inflation-protected U.S. Treasuries maturing in a year or less, so principal adjusts with CPI while interest-rate sensitivity stays short.ishares.com
  • 0.09% expense ratio, below the median for its short-Treasury peer group.
  • One job, done literally: track an index of sub-one-year TIPS, U.S. Treasury credit only, no active tinkering. Distributions land quarterly.
  • VTP Five basis points: under half the typical fund in its Treasury peer group, and well below the 0.12% charged by broad TIPS rival SPIP.
  • Full-curve coverage. The index is market value weighted and takes inflation-protected Treasuries with at least one year to maturity, no upper limit, so no single maturity slice bet.ice.com
  • Vanguard's other inflation-linked ETF stops below five years to maturity. This one is the long-end-included sibling, in the same low-cost index wrapper.vanguard.com
  • The inflation link sits inside the bonds, not in a strategy overlay: principal and coupons are indexed to consumer prices, and the fund passes income through quarterly.vanguard.com

Worth knowing

  • ICPI A late-2025 launch with a small asset base and light trading, so bid-ask spreads can run wider than the household-name bill funds. Limit orders matter here.
  • This is a CPI-linked instrument, not a yield engine. With a year or less to maturity, the inflation adjustment does most of the work, in both directions.
  • Plain nominal peers like BIL and TBLL are far more heavily traded for straight cash parking. ICPI's differentiator is the inflation link, not liquidity.
  • VTP Owning the long end cuts both ways. Real-rate moves hit a full-maturity TIPS portfolio harder than a sub-five-year one, so expect more price movement.ice.comvanguard.com
  • A 2025 launch means a short track record and thinner trading than the long-established TIPS funds, which can show up as wider bid-ask spreads.
  • Payouts move with inflation adjustments rather than a fixed rate, and Vanguard discloses that a distribution can include return of capital.vanguard.com

Full ICPI profile⁠

Full VTP profile⁠

ICPI vs VTP Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ICPI vs VTP Cost

Overpaying ICPI vs VTP

$838

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ICPI 0.09%

    $1,898

  • VTP 0.05%

    $1,060

$10,000
30 years

Cost over time

  • ICPI 0.09%
  • VTP 0.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K$2K051015202530ICPI $1,898VTP $1,060

Year by year

YearICPIVTPOverpaying
10$165$92$73
20$646$360$286
30$1,898$1,060$838

Expense ratio

  • 0.09%ICPI
  • 0.05%VTP, cheaper
  • Middle half of TIPS funds
  • Median 0.10%

VTP 4th cheapest of 40 funds

ICPI 6th cheapest of 40 funds

ICPI vs VTP Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
ICPI No data
VTP 3.76%
Payout (12M)
ICPI No data
VTP $2.77
Last payment
ICPI $0.23
VTP $0.99
Ex-dividend
ICPI Nov 2, 2026
VTP Oct 1, 2026
Paid on
ICPI Nov 5, 2026
VTP Oct 5, 2026
Frequency
ICPI Quarterly
VTP Quarterly

Distribution history

Per share, 2025 to 2026, same scale for both

ICPIQuarterly · 7 paymentsAll ICPI payments⁠
One bar per payment. 7 payments from 2025 to 2026 YTD. Dec 19, 2025 $0.27; Apr 1, 2026 $0.06; May 1, 2026 $0.18; Jun 1, 2026 $0.41; Jul 1, 2026 $0.38; Aug 3, 2026 $0.33; Nov 2, 2026 $0.23. Use the arrow keys to read each point.$0$12026YTD
VTPQuarterly · 5 paymentsAll VTP payments⁠
One bar per payment. 5 payments from 2025 to 2026 YTD. Oct 1, 2025 $0.47; Dec 18, 2025 $0.71; Apr 1, 2026 $0.06; Jul 1, 2026 $1.01; Oct 1, 2026 $0.99. Use the arrow keys to read each point.$0$12026YTD

ICPI vs VTP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ICPI No dataVTP 4.3%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
ICPI No dataVTP −0.42since Aug 2025
Worst fallMax drawdown, 5 years
ICPI No dataVTP −4.0%since Jul 2025
Market sensitivityBeta, 5 years
ICPI 0.01VTP 0.14

Popular comparisons

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